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HOMEWORK Unit TWO - Optional
Chapter 1 'Ten Principles of Economics'
Q1 Why isn't trade among countries like a game with some winners and some losers?
Chapter 3 'Interdependence and the Gains from Trade'
Q2 Give an example in which one person has an absolute advantage in doing something but another person has a comparative advantage.
Q3 Is absolute advantage or comparative advantage more important for trade? Explain your reasoning using the example in your answer to Question 3.
PA3 Pat and Kris are roommates. They spend most of their time studying (of course), but they leave some time for their favorite activities: making pizza and brewing root beer. Pat takes 4 hours to brew a gallon of root beer and 2 hours to make a pizza. Kris takes 6 hours to brew a gallon of root beer and 4 hours to make a pizza.
What is the theory of Federalism? How was it utilized in the American Constitution and for what purpose? Analyze how Federalism has changed over time and why? Do you agree or disagree with the changes and why?
Consider Mary's utility function: U = 10C0.5T0.5, where C is the quantity of coffee and T is the quantity of tea Mary consumes
1. What were three pillars (priorities/areas of importance) of the 2020 fiscal budget?
The market demand curve is given by P = 100 - 4Q. Also, each firm has constant marginal cost equal to 28. There are no fixed costs. How much output will each firm produce in the Cournot equilibrium?
What factors might contribute to a low growth rates in a country?
Suppose that the government imposes a temporary tari? on all imports, which makes imports more expensive relative to domestic residents (reducing the trade balance for any fixed level of the real exchange rate). Discuss the implications of this polic..
Give the three first order conditions of constrained optimization setting each equal to zero.
Suppose that economic growth in Mexico suddenly slows, all other things held constant. According to the monetary approach to exchange rates model
What are other symbols of Guernica? What mood is evoked? How did Picasso organize the composition? What effect does that have in the composition?
What are the key differences between M1 and M2 over time? Use the nominal levels of M1 (M 15L) and M2 (MZSL) to construct a graph from 1947-present (use LINE 1
Why does statistical quality control lead to improvements in many businesses?
You have borrowed $50,000 at an interest rate of 12%. Equal payments will be made over a three-year period. The first payment will be made at and of the first year. What will be the annual payment be?
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